Trade balance hits RO 2.9 bn

MUSCAT: The Sultanate’s trade balance has registered a surplus of RO 2.9 billion by the end June 2019. This compares to RO 2.5 billion by the end of June 2018, an increase of 16.8 per cent, according to preliminary statistics released by the National Centre for Statistics and Information (NCSI). The total merchandise exports of the Sultanate at the end of June this year amounted to RO 7,448,300,000, down 0.6 per cent compared to the RO 7,493,600,000 registered at end of June last year. The value of merchandise imports dropped by 9.5 per cent registering RO 4,499,700,000 at the end June 2019 as compared to RO 4,969,400 in the corresponding period of 2018.

The Sultanate’s oil and gas exports amounted to RO 5,096,300, an increase of 4.7 per cent compared to the RO 4,867,400,000 registered in corresponding period of June 2018. Of the oil and gas exports at the end of June 2019, the value of crude oil exports stood at RO 3,594,600. The value of refined oil exports amounted to RO 582,600. While liquefied natural gas (LNG) exports stood at RO 919,100,000. The statistics show that the Sultanate’s export of non-oil products decreased by 6.9 per cent to RO 1,625,100,000 in the first six months of this year compared to RO 1,744,900.000 in the same period of last year.

Saudi Arabia topped the trade exchange with the Sultanate in non-oil products, while the United Arab Emirates (UAE) topped the trade exchanges in terms of imports and re-exports from the Sultanate. The Sultanate’s non-oil exports to Saudi Arabia registered RO 373,200,000 at the end of June 2019, up 57.1 per cent compared to the corresponding period of last year. Non-oil exports to the UAE stood at RO 286,600,000, Singapore RO 148,700,000, India RO 139,700,000 and Qatar RO 126,000,000. — ONA